Iraq’s parliamentary finance committee convenes to address federal budget for 2023-2025

Iraq’s parliamentary finance committee, under the chairmanship of Lawmaker Atwan al-Atwani, resumed its sessions on Wednesday to deliberate over the proposed federal budget law for the years 2023-2024-2025.

In a statement released earlier today, the committee reiterated its unwavering commitment to holding regular meetings after the completion and presentation of its report during the second reading of the law in the parliament.

The committee said it has developed a comprehensive work plan and timetable to expedite the discussion of the law and consider all propositions.

“The budget law is viewed as a critical instrument in managing the nation’s progress, tackling challenges, and identifying strengths and weaknesses while studying the feasibility of a three-year voting procedure,” the statement said.

The statement attached importance to examining core issues and establishing subcommittees to engage with ministers and officials.

“By doing so, the committee aims to listen to and address their concerns while accelerating the discussion of the budget bill provisions,” it continued, “the committee also aspires to analyze all included tables meticulously to establish an investment-driven budget that assists in implementing projects, fulfilling the nation’s actual needs, and bolstering the service sector.”

During the discussions, the lawmakers underlined the vitality of supporting the private sector, reviving factories, scrutinizing the energy import dossier, and exploring opportunities to diminish the deficit.

The lawmakers, according to the statement, are considering making amendments to certain items in the bill to boost revenues and curtail expenditure.

Observations also encompassed the resumption of work on stalled projects in collaboration with executive authorities, addressing compensation issues, and receiving and studying all feedback with an accompanying report.

The meeting touched on the situations of those with terminated contracts in the Ministry of Defense, Ministry of Interior, and other departments, in a bid to find suitable resolutions for their issue.

The committee pledged to “support service programs by adopting a transparent vision and strategic plan for expenditure channels. This includes elevating the nation’s revenues through border crossings and tax authorities, streamlining processes through automation, and reassessing the Petro-dollar Fund project to aid oil-producing provinces in developing infrastructure and implementing service and ministerial projects.”

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